One of the key themes in RBA governor Phil Lowe’s speech today was the impact of globalisation on people’s job security.
In the question-and-answer session that followed, Lowe managed a self-deprecating comment about the advantages of being in a government-appointed role with tenure prescribed by statute.
Lowe made some remarks about people looking over their shoulder wondering who might be able to replace them in their job, but, with central bank stability being all-important to financial markets, he was careful to point out he wasn’t including himself in that group of concerned workers.
“Many of us feel — I personally don’t feel this, but I think many people do — that there are more competitors out there for their job,” he said, drawing laughs from the crowd.
“I’m in an unusual position of having a seven-year fixed term.”
Lowe was appointed RBA governor last year and earns just over $1 million a year in his post.